Question: please answer this question (short answer is fine) 3. [10] Suppose that you deposit $1000 in an account that pays 4% interest compounded monthly. a.

please answer this question (short answer is fine)

3. [10] Suppose that you deposit $1000 in an account that pays 4% interest compounded monthly. a. [4] How much interest will you have earned from this deposit at the end of 2 years? b. [4] How long does it take for your deposit to grow to $1500 in this account? C. [2] How much will you have after 2 years if, after the initial deposit of $1000, you also deposit $500 at the end of Year 1

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